EU inflation in May
Copilot
Certainly! In May 2024, Eurozone inflation increased to 2.6%, up from 2.4% in April, according to a flash reading from the European Union’s statistics agency1. Here’s a breakdown of the main components contributing to this inflation rate:
- Services: The annual rate for services is expected to be 4.1% in May, compared to 3.7% in April.
- Food, Alcohol & Tobacco: This category is expected to have an annual rate of 2.6%, down from 2.8% in April.
- Non-Energy Industrial Goods: The annual rate for non-energy industrial goods is 0.8%, slightly lower than 0.9% in April.
- Energy: Despite recent fluctuations, energy is expected to have an annual rate of 0.3%, a significant improvement from the negative rate of -0.6% in April.
Keep in mind that these figures are subject to revisions, and the complete set of harmonized indices of consumer prices (HICP) for the Eurozone will be released later this month2. If you’re interested in further details or specific country inflation rates, feel free to ask!
